IL&FS Eng stock up 10% on winning Rs 154 crore contract

Sugar stocks surged up to 16 per cent on Wednesday amid reports that the Uttar Pradesh government has given its nod to Rs 2,070-crore financial aid for sugar mills.MUMBAI: Shares of infrastructure firm IL&FS Engineering and Construction Company today rose sharply by over 10 per cent after the company won a Rs 154-crore contract from Power Grid for transmission line works in Gujarat.

"IL&FS Engineering and Construction Company and Unitech Power Transmission JV has received letter of award for Rs 153.99 crore turnkey works of 765 kV transmission line in Gujarat from PGCIL," the company had said in a BSE filing on Friday.

The scope of work includes supply contract for tower package for 765 kV Bhuj-Banaskanta Transmission Line associated with green energy corridor.

"The total value of this contract is Rs 153.99 crore, and the project completion period is 24 months from the date of issue of the letter of award (LoA)," the company had said.